Those looking to purchase an adverse credit mortgage may find they have more difficulty now due to the current financial crunch affecting the sector.

According to Sarah Robson, press officer for the Council of Mortgage Lenders (CML), lenders are currently tightening the criteria they use to decide who can borrow money.

But for those having trouble securing an adverse credit mortgage, a form of debt consolidation may be an alternative option.

And if interest rates decrease next year, borrowing of this type may be an ideal solution for people looking to lighten their debt load.

"The general expectation at the moment is that there will be a reduction in interest rates next year," Ms Robson said. "That will ease the pressure on some borrowers."

Adverse credit mortgages are generally classed as products for people who cannot get traditional mortgages from other lenders.

This may be due to previous credit problems or ongoing difficulties in securing a regular income.
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